Synergy Financial Solutions

[charitynjw]

Re: Synergy Financial Solutions

The MOJ will provide the definitive response to your questions but here is what I can offer to clear any fog. The CMC that has signed terms of business with the client is always the contracted service provider. There should only be one contracted service provider at any one time and my understanding of the MOJ is that they will take a dim view of any type of duplication of service provision i.e. the client has to know who they are dealing with and who they are paying based on one set of terms of business prevailing. Some CMC's, including Lifestyle Money, utilise agents or sub-contractors to outsource work to if they do not wish to complete it in-house. The principle of a sub-contractor is one that most clients would understand from other business sectors. The sub-contractor has no direct contract of service with the client who remains contracted at all times to the service provider holding the terms of business. The contracted service provider remains responsible for all service and liability issues so if a client is unhappy with work completed by a sub-contractor, the contracted service provider would be responsible for dealing with that complaint, not the sub-contractor! Now to deal separately with administration and different firms requesting money. A database of ongoing clients that have terms of business with a CMC is considered to be an asset in administration. That asset can be sold or transferred to a new owner based on the discretion of the Administrator who has a legal obligation to realise the maximum benefit for that asset on behalf of all interested parties i.e. creditors. So the clients may be transferred to a new owner in the administration. HOWEVER, as best business practice and in keeping with treating customers fairly and transparently, it would be ideal if the new owner asked for new terms of business to be signed to avoid any confusion on the part of the clients. My understanding is that although this is not a legal requirement based on the previous terms being transferrable in administration, the MOJ would prefer this for client best interests. As Synergy has no business arrangements with the new owner of Lifestyle Money cases, the first thing we did on being notified of the administration was to send our terms of business to all clients who were not directly contracted to ourselves - we gave clients a choice! I should maybe add at this juncture that Synergy no longer acts as a sub-contracted agent for any CMC - we only engage clients on our own t&c's. Hope this helps - again, please contact the MOJ for a definitive response as they are the only authority on this matter.

So, for those 'clients' who have signed re the new arrangement, a novation has taken place, & a completely new contract has been signed & agreed by all parties to the original contract, along with new terms & conditions.
Am I correct in this?

Or am I misunderstanding the Law of Property Act?

But what of those who have not signed?

[EXC]

Re: Synergy Financial Solutions

Now to deal separately with administration and different firms requesting money. A database of ongoing clients that have terms of business with a CMC is considered to be an asset in administration. That asset can be sold or transferred to a new owner based on the discretion of the Administrator who has a legal obligation to realise the maximum benefit for that asset on behalf of all interested parties i.e. creditors. So the clients may be transferred to a new owner in the administration.

No they may not.

The referral of claims or details of claims for a fee is defined as a regulated activity in law. Unless the administrator is authorized by the Claims Management Regulator (which in this case they were not) to conduct claims management activity the assignment of the contracts are invalid.

[Dougal16T]

Re: Synergy Financial Solutions

A good morning all,

Yesterday, 26th March 2014, [I can tell the time as well.... !]; I had an unexpected letter from 'Synergy Financial Solutions.'

The letter is headed 'Synergy FINANCIAL SOLUTIONS.'

It is only in small print at the bottom of the letter that the wording is changed to the following: 'Synergy Financial Solutions Ltd is regulated by the Claims Management Regulator in respect of regulated claims management activities.'

For me this is interesting from several points of view:

They have 'Our reference CAxxxxxx' on the letter which means nothing to me
They say the 'Provider : Pinnacle Insurance Plc' I do not recall having insurance with them
They say Account number : Igroup Mortgages Ltd - 12XXXXXX This is the number of a GE Money Mortgage account paid off over 5 years ago

The text of the letter goes on to say:

We write in relation to the above named complaint we have been dealing with on your behalf.

We have recently received correspondence from your provider informing us that they are unable to locate you on their systems. In order that we can proceed further with your complaint please could you provide the following information?

1) A copy of your PPI policy schedule or PPI Policy Certificate of Insurance - should you not have this then your lender should be able to send you a copy
2) Any previous names you may have been known by
3) Any previous addresse you may have resided at

We enclose a FREEPOST envelope for your convenience

Yours sincerely,

Synger Financial Solutions

What interests me is that I have been at my current address for over 7 years now, and I have been in touch with Pinnacle Insurance on other matters, and they DO have my current address!

Any thoughts anyone?

Best wishes to all as always,

Dougal

[Amethyst]

Re: Synergy Financial Solutions

First Q then, what other matters are you in touch with Pinnacle on?

Are Synergy linked to the other CMC you are dealing with ?

Have you spoken about your mortgage with anyone over the telephone ? Did you have PPI on your GE mortgage ?

[Dougal16T]

Re: Synergy Financial Solutions

Morning all,

Thanks for the questions:

Already in touch with Pinnacle since November last year, and have already had a refund of PPI from them on another Policy.

As far as I can see Synergy are not linked to the other CMC [File on GB now with MOJ]

Answer to third question is no I have not spoken to anyone about this, (either over the phone, or otherwise), and yes I did have PPI on my GE Mortgage.

I now know that this letter was/is a 'fishing exercise' by Synergy. I have spoken to Pinnacle directly at some length this morning. They have all of my details, for both of my properties which were insured with them, and they have my current address.

Pinnacle tell me that they have had no contact whatsoever from Synergy - so Synergy are lying in their letter.

Best news : Pinnacle are now sorting out my new claim for PPI directly, as a result of my phone call!

I did not even know that I could claim on the Policy which was sold to me some considerable time ago and was cancelled in 2004!!

Best wishes all

Dougal

[Amethyst]

Re: Synergy Financial Solutions

Nice one Just watch for Synergy coming back and claiming it was all down to them and charging you 25% lol.

[Dougal16T]

Re: Synergy Financial Solutions

Nice one Just watch for Synergy coming back and claiming it was all down to them and charging you 25% lol.

Thanks for the response,

I would imagine the statement by Pinnacle that they have not been contacted by Synergy, would probably sway the Jury!! LOL.

Best wishes
Dougal

[enaid]

Re: Synergy Financial Solutions

Love it when a plan comes together lol xx